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theboyzmom
F L I N T O I D
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Mon Apr 11, 2011 7:48 pm |
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untanglingwebs
El Supremo
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Gems among the junk: Genesee County gets seven properties worth more than $400,000 each
Published: Monday, April 11, 2011, 7:30 AM Updated: Monday, April 11, 2011, 10:06 AM
By Ron Fonger | Flint Journal The Flint Journal
GENESEE COUNTY, Michigan --
Tax assessors valued seven properties that the county has taken through tax foreclosure at $400,000 or more, but the executive director of the county Land Bank Authority says the parcels are likely worth half their market value or even less.
"All the higher value stuff -- if you can get near (half the market value) you are doing well," said Land Bank Executive Director Doug Weiland. "Particularly commercial and industrial properties (are worth less because) they aren't assessed as often as residential properties."
The county foreclosed last week on 2,999 properties where owners failed to pay back taxes. Those properties could be headed to auction later this year or they could end up the property of the Land Bank or the cities or townships where they are located.
The highest value property on the foreclosure list is in on Jimbo Drive in Burton, 9 acres of land and three buildings valued at more than $2 million in 2010.
The Burton property had been owned by a reportedly bankrupt foundation, SeedAmerica Foundation.
In Davison Township, undeveloped residential property on Rivershyre Parkway is also among the foreclosures and was valued at $1.7 million in 2010. The owner, Great Lakes Broker Funding, was operated by Kurt W. Heintz, who is serving a federal prison sentence in Montgomery, Ala., after pleading guilty to bank fraud in 2009.
Weiland said Land Bank officials are looking those higher value properties, trying to decide a strategy for what the agency should do with each.
The Land Bank as well as cities and townships can take any of the properties in advance of auctions by paying for back taxes and penalties owed the county. The Land Bank also ends up with properties that aren't sold at auction, holding them in trust or selling them later
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Last year, the Land Bank resold about $2.5 million worth of real estate, accounting for a significant portion of the agency's budget.
Other properties worth at least $400,000 in 2010 and lost through foreclosure this year are:
Undeveloped commercial land at 5320 Pierson Road in Mt. Morris Township.
The former Clark's Store Fixtures building at 1830 S. Dort Highway in Flint.
Undeveloped commercial land on North Irish Road in Davison Township.
Undeveloped commercial land at 2517 Stanley Road in Mt. Morris Township.
Undeveloped residential land on Woodfield Parkway in Grand Blanc Township.
mushmorton April 11, 2011 at 1:02PM
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IF these properties are worth less than half of what they were assessed at , why was the government taxing them at twice the retail value against Michigan tax law?
First thing that needs to happen is to get Dougy Weiland, former Genesee County Democratic Party Chairman, out of the governmental real estate business. The next thing that needs to happen is to assess ALL Genesee County real estate at what the CURRENT market value of these properties and tax them at 50% of market value just like the law demands,, then maybe the owners can afford to pay the taxes.
Anytime you let unqualified Democratic/UAW Party hacks to be involved in Genesee County financial affairs there is bound to be rip-offs and pure incompetance at the taxpayer's expense.
+_ April 11, 2011 at 2:27PM
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All Non Homestead properties Should be current on Taxes .. This includes Rental Properties... Landlord Wait 3 Years to pay the taxes for the first year in Error.. and still have 2 Yrs in error While they are milking The properties untill the city Condems them... They Walk away . and go to The county and the land bank to Pick up New properties to milk....
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mushmorton April 11, 2011 at 3:36PM
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The only entity doing the milking is the government on these overtaxed pieces of property. This is what happens when the UAW forces bankruptcy on Delphi and GM and eliminates all the jobs. People have no reason to pay any amount of property taxes because they are unemployed or under employed. Why do you think Doug Weiland is working for the goverment? Doug doesn't have the private sector skills to to do anything other than what he is doing poorly now.
What the Genesee County governmental dumbos fail to realize is you can't force anybody to pay property taxes if they don't want. What are you going to do, take their overtaxed and worthless property? Go ahead take the property! This is the scenario which is now being played out.
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justicesearc April 11, 2011 at 8:44PM
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What Weiland is saying is that the assessors have been violating the law and the state constitution. Both say that property should be assessed at 50% of the true cash value. Clearly they are not doing that. Did the City and County not learn anything from the Genesee Tower fiasco?
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Tue Apr 12, 2011 7:41 am |
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untanglingwebs
El Supremo
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Previous allegations against Land Bank employees revolved round their stripping vehicles at the oak Business Center and stripping houses in the neighborhoods. Now on facebook I am seeing allegations that the Land Bank employees stole property from the New York couple on Baltimore.
When is the administration of the Land bank get it together
Also, the land bank violates their own policies when it comes to land sale. |
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Sat May 28, 2011 11:47 am |
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